August was inspired by the gap between the exciting progress of precision medicine and the ability of healthcare systems to pay for the resulting gene- and cell therapy products. This limits access for patients, who then cannot pursue a potential cure. This also hampers the innovation cycle, which needs to ensure that sufficient incentive exists for the high-risk expensive research and development of next-generation treatments.
Through integrated capabilities in biomedicine, machine learning, health economics and outcomes research (HEOR), financial engineering, and legal innovation, August bridges the gap between the BioPharma companies who develop these gene- and cell therapy products, and the Health Insurers or other payers who struggle to afford them. This is accomplished by offering unique outcomes-based financial solutions (OBFS). In other words, August enables the healthcare system to pay for delivered health benefits over time.
August is not just a company, it is a new way of care.